GILD Trade on May 6, 2020 10:43 from beno: Tradervue User Stock Trades.

Shared by
beno

Fundamentals

N/a

Catalysts / News / Painting the picture

-Early April: ppl been using their drug remdesivir to treat COVID-19
-April 23 2020: Leaked Chinese data claiming remdesivir drug flop / company denies and says its due to lack of participation in the trial
-April 29 2020: Reports early positive data in remdesivir studies as COVID-19 drug, China trial said opposite

Technical Analysis

-SPY pattern: Fade
-Intraday pattern: Fade
-Levels: 77.3, 78, 78.5, 79.3

Strategy / Confluence / Sizing Guide / Risk

Strategy: FT-15 short of
Confluence: VWAP, Half dollar
Sizing (lots): 3
Risk (stop / Rs): Hold above 78.5

Review / Lessons Learned

OGT, took it with appropriate size, when I saw it holding below level I slammed the bid to get my final lot - IT WAS UNCOMFORTABLE BUT THE RIGHT THING TO DO! I actually added another lot after I slammed the bids because I started getting my emergency lots in in order to scratch the trade, but trade worked in the end!

Execution detail:

Date/time	Symbol	Side	Price	Position
2020-05-06 10:43:28	GILD	sell	$78.300	short
2020-05-06 10:44:03	GILD	sell	$78.310	short
2020-05-06 10:44:25	GILD	sell	$78.255	short
2020-05-06 10:45:20	GILD	sell	$78.350	short
2020-05-06 10:46:21	GILD	buy	$78.170	short
2020-05-06 10:46:38	GILD	buy	$78.160	short
2020-05-06 10:49:10	GILD	buy	$78.080	short
2020-05-06 10:49:46	GILD	buy	$77.980	short
2020-05-06 10:50:22	GILD	buy	$77.940	short
2020-05-06 10:51:40	GILD	buy	$77.986	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=GILD&trade=14475330&end=20200506111840&i=m1&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=GILD&trade=14475330&end=20200506121840&i=m3&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=GILD&trade=14475330&end=20200506160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart4 { background-image:url('/shared/charts/pricechart?symbol=GILD&trade=14475330&end=20200605&i=d&TimeRange=120&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

manowar41

2020-05-07 02:18:05

Beno you a scalper, you trade big size, I saw exit too early.

beno

2020-05-09 14:54:57

Hey manowar41!

Yes you're right I am a scalper, but my size isn't that big.
I usually hold for 1 - 6 minutes, holding for 10 minutes begins to be long for me.

I agree that my first and second exits were too close together and in that sense I probably scaled out too quickly.

I'm always working on my skills and being patient with bigger size while ITM is something I'm still working on and fine tuning.

Thanks for reaching out! I always appreciate critical feed back! :)

manowar41

2020-05-10 06:56:13

You always seem to be in the right trade, because I trade the same style as you but i like to play the open. Later I learn down the road to limit my play and wait for the setups to develop.